THE Board of Investments said it will be granting fiscal and tax incentives to a poultry processor’s cold storage facility expansion, declaring the project eligible under the 2017 Investment Priorities Plan (IPP).
In a statement released by the Department of Trade and Industry’s investment promotions arm, 557 Feather Meal Corp’s P78.3 million project in Concepcion, Tarlac is expected to increase the company’s annual production by over 38% to 32.45 million processed chickens.
557 Feather Meal Corp. operates as the poultry processor of San Miguel Pure Foods Company, Inc.’s food subsidiary San Miguel Foods, Inc.
BoI Managing Head Ceferino S. Rodolfo said in a statement that poultry demand in Central Luzon is expected to grow again as the sector recovers from a bird flu outbreak.
According to the 2017 IPP, agricultural projects which include support services and infrastructure for drying, cold chain storage, blast freezing, bulk handling and storage outside Metro Manila can apply for tax incentives. – Anna Gabriela A. Mogato
